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Dec 31, 2012
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we'll have more on that and the fiscal cliff negotiations in a minute. >>> first, i want to show you the rest of the world is ringing in the new year. midnight arrived in asia. they are calling it a pyre tech nick musical. they were scheduled to begin an hour before midnight. hong kong on the top ten places to ring in the new year. let's listen. ♪ ♪ ♪ ♪ >>> ring in the new year, good morning 2013. we'll continue to monitor all of these celebrations as the day rolls on. the night rolls on in some cases. midnight in the u.s. is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republican
we'll have more on that and the fiscal cliff negotiations in a minute. >>> first, i want to show you the rest of the world is ringing in the new year. midnight arrived in asia. they are calling it a pyre tech nick musical. they were scheduled to begin an hour before midnight. hong kong on the top ten places to ring in the new year. let's listen. ♪ ♪ ♪ ♪ >>> ring in the new year, good morning 2013. we'll continue to monitor all of these celebrations as the day rolls on....
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Dec 25, 2012
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the fiscal cliff which is the tax hikes, the spending cuts, each if they deal with the spending cuts and we're waiting to see what the measure will look like. i know what a hard-hitting white house reporter you are. i want to know whether it's apple kay, pumpkin pie or peekan pie for the president and first family on christmas day. any news on the menu? >> reporter: no, i am still waiting to find out. maybe we'll find out a little later today. you don't frequently find out until they have just released it, until the white house releases the information so we'll be standing by to let you know how the president spends his holiday. nothing on his public schedule, but, you know, he normally visits with troops so we're expecting he might do that today here in hawaii. >> that would be a wonderful way to spend christmas day. brianna keilar live from honolulu, hawaii, thanks. >>> other stories in the news, all day and all night this christmas people in newtown, connecticut are paying tribute to sandy hock's victims. a kindl is being lit for each children and 6 adults and volunteers are being
the fiscal cliff which is the tax hikes, the spending cuts, each if they deal with the spending cuts and we're waiting to see what the measure will look like. i know what a hard-hitting white house reporter you are. i want to know whether it's apple kay, pumpkin pie or peekan pie for the president and first family on christmas day. any news on the menu? >> reporter: no, i am still waiting to find out. maybe we'll find out a little later today. you don't frequently find out until they have...
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Dec 24, 2012
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our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it comes to tax increases. that was last week. >> dana, you were saying that when you were reporting on it when it was breaking that evening, you called that devastating for john boehner. now that hou
our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of...
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Dec 26, 2012
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but six days before the fiscal cliff, president obama cutting short his christmas vacation on the off chance he and congress might be able to cut some kind of deal. he left. but brianna keilar is still there in honolulu. when's the president leaving and why does he really expect to avoid the cliff? >> reporter: i will be leaving as well when the president leaves, don. he is expected. he will be leaving tonight. that's local time. so he'll be traveling overnight and arriving back in the d.c. area late thursday morning. as you know, the senate reconvenes tomorrow. so he'll be going back as that is happening. we heard from him last week as he was heading out to hawaii. he said, see you next week. we had a thought that this was probably going to happen. he is officially now going back. he said last week, don, that he is still optimistic that something can get done. the other issue here, though, is you can imagine, how bad it would look if he go over the cliff and there's a lot of work to make sure that doesn't happen. he's here in hawaii on vacation. that would look terrible for him. so o
but six days before the fiscal cliff, president obama cutting short his christmas vacation on the off chance he and congress might be able to cut some kind of deal. he left. but brianna keilar is still there in honolulu. when's the president leaving and why does he really expect to avoid the cliff? >> reporter: i will be leaving as well when the president leaves, don. he is expected. he will be leaving tonight. that's local time. so he'll be traveling overnight and arriving back in the...
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Dec 24, 2012
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only eight days left until america goes off the fiscal cliff. both sides are taking a holiday break, and all we're getting is the blame game. some republicans suggesting that the doomsday scenario that's now unfolding is all part of a white house plan. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at thement bot of the cliff. he gets all this additional tax revenue for new program. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> white house correspondent breanna keilar has the envy of all assignments of traveling with the president and joins us live from honolulu, hawaii, this morning. breanna, good morning to you. >> reporter: good morning to you, alina. the bottom line here, beginning this week, is that substantive conversations between democrats and republicans are basically nonexistent. the white house and senate democrats are not in communication not only with house re
only eight days left until america goes off the fiscal cliff. both sides are taking a holiday break, and all we're getting is the blame game. some republicans suggesting that the doomsday scenario that's now unfolding is all part of a white house plan. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at thement bot of the cliff. he gets all this additional tax revenue for new program. he gets...
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Dec 24, 2012
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it appears those spending cuts that are the other part of the fiscal cliff will likely set in. and then what happens there will maybe be something that democrats and republicans try to deal with in the coming weeks, in the coming months. that means even come say the end of the year here or if we go over the cliff and there's some quick resolution, it's not for everything and we'll be dealing with a lot of these problems for some time, carol. >> what's the president doing in hawaii? >> reporter: the president has been getting in some r and r. he arrived saturday morning. he played golf with some of his buddies. he wept outer with his wife. yesterday he attended the ceremony for senator daniel inn way. and then he went for a hike in the afternoon with his daughters. this may be his one chance for a vacation and you may recall he didn't get one this summer. he decided not to go on his normal vacation in the election year. so this is really it for him. >> brianna keilar, thank you. >>> the gun control debate is intensifying. the nra's executive vice president made the circuit on su
it appears those spending cuts that are the other part of the fiscal cliff will likely set in. and then what happens there will maybe be something that democrats and republicans try to deal with in the coming weeks, in the coming months. that means even come say the end of the year here or if we go over the cliff and there's some quick resolution, it's not for everything and we'll be dealing with a lot of these problems for some time, carol. >> what's the president doing in hawaii?...
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Nov 13, 2012
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investors are closely watching lawmakers and whether a deal will be cut to avoid that so-called fiscal cliff. the opening bell today, executives from marriott vacations worldwide. >>> work has started to exhume the body of yasser arafat. circumstances surrounding his 2004 death after radioactive levels were found on some of his belongings. rumors of poisoning have long circulated around the former plo leader's death. >>> back at home new york's governor estimates sandy's loss to the state to be around $30 billion. a $500 million emergency spending plan was announced for schools and hospitals while thousands still struggle without power. >>> now to that shocking new development in the sex scandal that toppled one of the most respected men in washington. the david petraeus affair has now ensnared another top general, john allen. he is the commander of all international troops in afghanistan. today, the fbi is sifting through a mountain of e-mails and messages he traded with a woman named jill kelley, a mind boggling 20,000 to 30,000 pages and agents are searching for anything inappropria
investors are closely watching lawmakers and whether a deal will be cut to avoid that so-called fiscal cliff. the opening bell today, executives from marriott vacations worldwide. >>> work has started to exhume the body of yasser arafat. circumstances surrounding his 2004 death after radioactive levels were found on some of his belongings. rumors of poisoning have long circulated around the former plo leader's death. >>> back at home new york's governor estimates sandy's loss...
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Nov 16, 2012
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. >>> it is game on for fiscal cliff talks. president obama and congressional leaders met today to kick start face to face negotiations. they have 46 days to cut a deal, otherwise massive tax hikes and spending cuts kick in january 1st. >> i think we're all aware we have some urgent business to do. we have to make sure taxes don't go up on middle class families, that our economy remains strong, that we're creating jobs, and that's an agenda that democrats and republicans and independents, people all across the country share. so our challenge is to make sure that, you know, we're able to cooperate together, work together, find some common ground, make some tough compromises, build some consensus, to do the people's business. >> chief business correspondent ali velshi joins me now live from new york. i think of thelma and louise and imagine congress in the front seat driving us off. what does he say about how to get ready for this huge economic pain? did he mention the r word, recession? >> well, he did. this is interesting becau
. >>> it is game on for fiscal cliff talks. president obama and congressional leaders met today to kick start face to face negotiations. they have 46 days to cut a deal, otherwise massive tax hikes and spending cuts kick in january 1st. >> i think we're all aware we have some urgent business to do. we have to make sure taxes don't go up on middle class families, that our economy remains strong, that we're creating jobs, and that's an agenda that democrats and republicans and...
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Sep 27, 2012
09/12
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poem are talking about about the fiscal cliff coming and new tax increases and spending cut us. but the really problem is in february when out of the necessity who is president will have to go to the congress and say we need a trillion or two trillion in borrowing authority to pay our debts. we have got i mean, this is a conservative message which people, whether they agree with you or not. >> this is real. >> this is real. and we are on a spending binge. >> woodward will appear on "fox and friends" to discuss the economy and next fiscal cliff is just around the corner. there are fewer than 100 days before we reach that impending fiscal cliff. the expiration of bush tax cuts the start of a trillion dollars of budget cuts. tax magedon is unsettling to one large segment of the economy and mike emanuel explains. >> many small business owners are expressing anxiety as the u.s. economy faces the fiscal cliff. that is in tax hikes and government spending cut to do you to take affect in the new year. >> i want to grow and invest in the community and holding things back just because of
poem are talking about about the fiscal cliff coming and new tax increases and spending cut us. but the really problem is in february when out of the necessity who is president will have to go to the congress and say we need a trillion or two trillion in borrowing authority to pay our debts. we have got i mean, this is a conservative message which people, whether they agree with you or not. >> this is real. >> this is real. and we are on a spending binge. >> woodward will...
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Dec 30, 2012
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under the mandatory cuts of the fiscal cliff, the federal aviation administration would lose $800 million, and more than 2,000 air traffic controllers. fewer controllers mean fewer planes moving passengers and cargo. warns the air traffic controllers association. >> fb's pocketbook and livelihood is tied to the aviation system, so the impact of the aviation system not being able to provide the service that they do today would be devastating. >> reporter: if washington can't reach a compromise, the economic recovery could stall. if we cannot figure this out, they're putting a bunch of huge and ugly potholes on a road that was supposedly going to get us to economic recovery. >> reporter: in fact, air traffic controllers warn that more than 100 small airports could lose their control towers. jobs and revenue that may never come back. john bentley, cbs news, new york. >> winter storms are spreading across the country, a massive storm that created havoc east of the mississippi is now headed to new england. that storm left a trail of power outages in the southeast after dumping some 15 inches o
under the mandatory cuts of the fiscal cliff, the federal aviation administration would lose $800 million, and more than 2,000 air traffic controllers. fewer controllers mean fewer planes moving passengers and cargo. warns the air traffic controllers association. >> fb's pocketbook and livelihood is tied to the aviation system, so the impact of the aviation system not being able to provide the service that they do today would be devastating. >> reporter: if washington can't reach a...
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Dec 3, 2012
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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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Nov 9, 2012
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what is the fiscal cliff? it's spending cuts, all begins at the beginning of the year, a bush tax cuts expire, that means everyone's taxes would rise. alternative minimum tax patch goes away, the payroll tax holiday goes away. unemployment extension goes away. the congressional budget office says it would certainly push the u.s. into a recession. no one wants us to go there. the problem now is figuring out how to fix it. possible scenarios. you could have congress kick the can down the road. just extend current policy for six months. that would cast a shadow over the business community. you could fall off the fiscal cliff like paul krugman is suggesting. stocks would dive. i don't know how many days it would take them to do something and then boom congress would move and you could have this grand bargain on deficit reduction. they need a budget. they need to agree on how we're going to spend our money and invest. that's what these two have to agree on. what does it mean for you? if you go off the fiscal cliff,
what is the fiscal cliff? it's spending cuts, all begins at the beginning of the year, a bush tax cuts expire, that means everyone's taxes would rise. alternative minimum tax patch goes away, the payroll tax holiday goes away. unemployment extension goes away. the congressional budget office says it would certainly push the u.s. into a recession. no one wants us to go there. the problem now is figuring out how to fix it. possible scenarios. you could have congress kick the can down the road....
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Sep 11, 2012
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with the fiscal cliff if it doesn't act we will fall off this so-called fiscal cliff meaning spending cuts would expire, taxes would go up, it would have a huge negative impact on gdp and such a bad impact that the congressional budget office has predicted we're going to fall into a recession which is negative growth. so, you know, to be honest here it will take more than just an iphone to pull us out of that hole. it would be a nifty feature if the iphone could walk through congress and say can you guys get off your doves and do something? >> wouldn't that be great? a lot of people are wishing they would do more than that. alison kosik thanks so much. we're going to take a short break. i was spotting, but i had already gone through menopause. these symptoms may be nothing... but they could be early warning signs of a gynecologic cancer, such as cervical, ovarian, or uterine cancer. feeling bloated for no reason. that's what i remember. seeing my doctor probably saved my life. warning signs are not the same for everyone. if you think something's wrong... see your doctor. ask about gyn
with the fiscal cliff if it doesn't act we will fall off this so-called fiscal cliff meaning spending cuts would expire, taxes would go up, it would have a huge negative impact on gdp and such a bad impact that the congressional budget office has predicted we're going to fall into a recession which is negative growth. so, you know, to be honest here it will take more than just an iphone to pull us out of that hole. it would be a nifty feature if the iphone could walk through congress and say...
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Dec 26, 2012
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president obama cuts his hawaiian vacation short to deal with the fiscal cliff. it is already too late? good morning, 7:00 in the east. i'm alina cho. >> and i'm drew griffin. soledad o'brien is off today. "starting point" begins right now. >>> our starting point, a cruel one. a one-two christmas punch from mother nature. tornadoes and blizzards tearing through the south and midwest. >> oh, my god. we need to go. it's right there. >> mobile, alabama, took a real beating. a twister blowing up transformers, leaving more than 25,000 customers without power. reports to damage to homes, a high school, and church. >> it came in behind the church right there, and then all green fluorescent lighting and popping transformers left and right. and we heard the crashing and everything and the power went out. >> i prayed to god as loud as i could, and i was just praying for my safety, and i knew the church was shaking. i just prayed that the church stayed put. >> here is the other half of this story, blizzard conditions blanketing much of the midwest and the northeast will get
president obama cuts his hawaiian vacation short to deal with the fiscal cliff. it is already too late? good morning, 7:00 in the east. i'm alina cho. >> and i'm drew griffin. soledad o'brien is off today. "starting point" begins right now. >>> our starting point, a cruel one. a one-two christmas punch from mother nature. tornadoes and blizzards tearing through the south and midwest. >> oh, my god. we need to go. it's right there. >> mobile, alabama, took a...
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Dec 26, 2012
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not going to be able to do as much. >> we're looking in six days of going over the fiscal cliff. $600 million in tax increases and spending cuts. >> nobody wants to do that. >> i think we all agree and no talks by all accounts by the president and members of congress. >> the president went -- >> and the president was playing golf in honolulu. listen, i was working on christmas. with all due respect. should congress have taken a break? >> no. >> there are huge implications here. we have to wait on the senate at this point. and that's -- that's our challenge. we did send a bill to them in -- a couple of months ago in august. although now it's four months ago. we sent a bill to them saying let's extend '01, '03 for the time being so we can work on real tax reform. they need to send that back to us. it's true speaker boehner brought another bill for consideration to the house majority. but that's just -- >> and they rejected it. >> that's just moving the hot potato around. nothing is getting done. >> if you look at it, the house has passed a budget for three years in a row. the senate has
not going to be able to do as much. >> we're looking in six days of going over the fiscal cliff. $600 million in tax increases and spending cuts. >> nobody wants to do that. >> i think we all agree and no talks by all accounts by the president and members of congress. >> the president went -- >> and the president was playing golf in honolulu. listen, i was working on christmas. with all due respect. should congress have taken a break? >> no. >> there...
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Nov 14, 2012
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which to me reads as let's go over the fiscal cliff. is that what you're saying, we should go over the cliff? >> soledad, i, like everybody else, believes we should not go over the fiscal cliff. but we are facing today a terrific problem in our country in balancing the needs of people everywhere and facing this budget crisis that we have. whoa need a balanced, responsible, fair decision to end -- and a way to put this budget together so that everybody pays their fair share. the key to that right now is whether or not the republicans are going to continue to stand in a corner and say everybody else has to solve this. everybody else has to sacrifice. >> what can they do? let's say they do. we're not going to agree to raising taxes. are you saying that if that is the case, then we are de facto going over the cliff or the slope or whatever you call it? >> i think the republicans have a decision today. they need to decide if they're going to stay and protect the wealthiest americans from participating in this challenge that we have. if they
which to me reads as let's go over the fiscal cliff. is that what you're saying, we should go over the cliff? >> soledad, i, like everybody else, believes we should not go over the fiscal cliff. but we are facing today a terrific problem in our country in balancing the needs of people everywhere and facing this budget crisis that we have. whoa need a balanced, responsible, fair decision to end -- and a way to put this budget together so that everybody pays their fair share. the key to...
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Nov 14, 2012
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i don't want to do that. >> that's the fiscal cliff? >> i don't think we should do that, but they may force us to do that. >> agreeing to go over the cliff, some would say, is almost irresponsible. that raises unemployment to 9.1%. that puts millions of people out of work. that that affects your gdp. all these terrible things, that the fiscal cliff brings? >> absolutely. the alternative to that, if they insist on their position, is even worse. middle class families who have been hurt over the past number of years because of the economy are going to bear the entire burden of our fiscal challenges, whether it's cuts to education, changes to medicare and social security or whether it's they, themselves, having to pay additional taxes. what we're saying is it has to be fair. everyone has to participate. and we can't continue to allow the republicans to exclude one group of people, those making over $250,000 a year, from paying their fair share. that's what we're fighting for. >> let me turn to mckay and will cain about this. we were discuss
i don't want to do that. >> that's the fiscal cliff? >> i don't think we should do that, but they may force us to do that. >> agreeing to go over the cliff, some would say, is almost irresponsible. that raises unemployment to 9.1%. that puts millions of people out of work. that that affects your gdp. all these terrible things, that the fiscal cliff brings? >> absolutely. the alternative to that, if they insist on their position, is even worse. middle class families who...
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Nov 18, 2012
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. >> you heard about the fiscal cliff. i don't know if you've heard of that. you know who made that? congress made that. dramatic cuts in spending at the exact same time that all these exact taxes expire, at the same exact moment that the spending goes down in a controlled way. that wasn't an accident. congress chose na. >> rubio is considered a rising star and a gop favorite. talk about the fiscal cliff, the u.s. is a month and a half away from going over this so-called fiscal cliff and negotiations have begun, but voters are skeptical that a deal will be reached before the end of the year. here's political correspondent paul steinhauser. >> good morning. >> i think we're all aware that we have some urgent business to do. >> the president, as he sat down at the white house friday with top congressional leaders from both parties. americans agree. more than 82% say it's extremely important for congress to reach a deal. >> our challenge is to make sure that, you know, we are able to cooperate together. >> and i believe that
. >> you heard about the fiscal cliff. i don't know if you've heard of that. you know who made that? congress made that. dramatic cuts in spending at the exact same time that all these exact taxes expire, at the same exact moment that the spending goes down in a controlled way. that wasn't an accident. congress chose na. >> rubio is considered a rising star and a gop favorite. talk about the fiscal cliff, the u.s. is a month and a half away from going over this so-called fiscal...
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Nov 10, 2012
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the fiscal cliff and spending cuts will wreak havoc. spending cuts would take $1.2 trillion over ten years, 100 billion in the first year. >> these are big cuts, ten to 14% in programs, a quarter of the way through their fiscal year. that's bad policy and dangerous. >> the biggest stumbling block is tax increases. everyone wants to extend the bush tax cuts for those making less than 250,000 a year. the president, however, wants to raise taxes on those making more, and add other taxes to boot. some analysts argue that would crush small businesses which create two-thirds of all jobs. >> the tax increases that president obama has fought for would actually increase taxes on small businesses by about $50 billion a year going forward. >> in 2010 when the economy was growing at 2.3%, president obama extended all the tax cuts, saying the economy was too weak to digest a tax increase. now the economy is growing at only 2%, but mr. obama is forging ahead and senator reid argues he got a mandate to do so. >> the president campaigned around the cou
the fiscal cliff and spending cuts will wreak havoc. spending cuts would take $1.2 trillion over ten years, 100 billion in the first year. >> these are big cuts, ten to 14% in programs, a quarter of the way through their fiscal year. that's bad policy and dangerous. >> the biggest stumbling block is tax increases. everyone wants to extend the bush tax cuts for those making less than 250,000 a year. the president, however, wants to raise taxes on those making more, and add other...
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Dec 28, 2012
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but that's cutting pretty close, as you can imagine, because we go over the fiscal cliff as of monday night without a deal. so pretty tight timeline there. >> what is the thinking at this point, dana bash, that most congressional leaders feel like going over the cliff, whether they will say it publicly is one thing, but going over the cliff might be better, because on the other end of it, you can vote for tax cuts versus raising taxes for a certain number of americans, politically speaking, isn't that a better scenario for them? >> it may politically be a better secenario for some congresspeople. but it will be a catastrophe because of public opinion, the way markets would respond on january 2nd. i think politically obviously it saves a little face, particularly for some republicans who don't want to vote for tax increases. taxes increase automatically, but it isn't without consequences and we're trying to get a sense today -- the meeting that you mentioned, 3:00 p.m. at the white house, congressional leaders with the president and vice president. coming out of that, i think we may ha
but that's cutting pretty close, as you can imagine, because we go over the fiscal cliff as of monday night without a deal. so pretty tight timeline there. >> what is the thinking at this point, dana bash, that most congressional leaders feel like going over the cliff, whether they will say it publicly is one thing, but going over the cliff might be better, because on the other end of it, you can vote for tax cuts versus raising taxes for a certain number of americans, politically...
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Dec 29, 2012
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tick tock, we're three days away from possibly going off the fiscal cliff. it's our focus this morning. if lawmakers fail to reach a deal, that would mean spending cuts and tax hikes for 88% of all american households on tuesday. look at the number from the tax policy center. these numbers are interesting. some of the poorest americans who make up to $20,000 a year will have to shell out about $412 more to the irs, and everyone earning more than $40,000 a year will be affected. if you make $40,000 to $64,000 a year, you'll pay almost $2,000 more a year, and if you make a little more between $64,000 to $108,000, that number jumps to $3,500. and anyone making more than $108,000, you'll have to give up more than $14,000. overall, the average american will pay more than $3,500 a year. the question needs to be asked here, will lawmakers be able to pull off a new deal before the new year? the managing director joins me now live from miami. you, dylan, were part of the bush administration a little more than a decade ago, which actually initiated this series of tax
tick tock, we're three days away from possibly going off the fiscal cliff. it's our focus this morning. if lawmakers fail to reach a deal, that would mean spending cuts and tax hikes for 88% of all american households on tuesday. look at the number from the tax policy center. these numbers are interesting. some of the poorest americans who make up to $20,000 a year will have to shell out about $412 more to the irs, and everyone earning more than $40,000 a year will be affected. if you make...
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Dec 31, 2012
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still no deal on the fiscal cliff. are the democrats and republicans too far apart at this point to reach a deal before midnight? i hope not. >> is the cliff armageddon for the defense department. what these defense cuts would mean for national security. >>> a health scare for hillary clinton. what doctors say happened and an update on her condition. >> i'm ali velshi. >> and i'm christine romans. >> and i'm dr. sanjay gupta. john and zoraida are both off. >>> millions of americans will countdown to a fiscal cliff. a development that could send the nation back to recession. yesterday, the two parties turned to their respective closers, vice president joe biden and senate minority leader mitch mcconnell to get a back door deal done. the republican is not giving up. >> i'm interested in getting a result here. willing to work with whoever can help. there is no single issue that remains an impossible sticking point. >> all right according to the president, there has always been and still is one big sticking point. raising
still no deal on the fiscal cliff. are the democrats and republicans too far apart at this point to reach a deal before midnight? i hope not. >> is the cliff armageddon for the defense department. what these defense cuts would mean for national security. >>> a health scare for hillary clinton. what doctors say happened and an update on her condition. >> i'm ali velshi. >> and i'm christine romans. >> and i'm dr. sanjay gupta. john and zoraida are both off....
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speaking of that fiscal cliff, post election report on the fiscal cliff says it will lead to a recession, spike in unemployment in 9.1%. congress is running out of time to prevent taxes from rising for everyone. across the board 8% to 10% budget cuts for fda, cdc, border patrol, education. it's a long list. cbo also found that raising taxes just on the wealthy would not meaningfully hurt economic growth. in fact, it would hurt it by about a little -- maybe a quarter of one percentage point in economic growth, you guys. >> mortgage rates? >> near record lows, as i said. >> great news. here is what we've learned in the last ten minutes. i would like to recap. number one, don lemon is an emotional, committed, deeply, deeply committed advocate of pot smoking. we also have learned that he is a bit of a twitter battle with jonah hill, the actor. so here are some of the tweets. first one. >> oh, lord. >> this is from don. said hi to @jonahhill in hotel. think he thought i was bellman. didn't know his name till bellman told me. a lesson to always be kind. to which hill responded i said hi. what
speaking of that fiscal cliff, post election report on the fiscal cliff says it will lead to a recession, spike in unemployment in 9.1%. congress is running out of time to prevent taxes from rising for everyone. across the board 8% to 10% budget cuts for fda, cdc, border patrol, education. it's a long list. cbo also found that raising taxes just on the wealthy would not meaningfully hurt economic growth. in fact, it would hurt it by about a little -- maybe a quarter of one percentage point in...
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this is the final day of the fiscal cliff countdown. the possibility of tax hikes, spending cuts, and a recession all looming at midnight. democrats and republicans turning to their so-called closers to cut a compromise deal. vice president joe biden, senate minority leader mitch mcconnell working behind closed doors, two men who have worked together for 20 years. the ho use and senate back in session in just a few hours. we're not seeing much progress. one significant stumbling block has been sidestepped. republicans reported dropping their demand to slash social security cost of living increases, the chain cpi that had been briefly on the table. what are the chances we'll get the deal done today? let's listen to republican congressman jason chaffetz earlier on "starting point." >> the united states senate hasn't passed a budge net four years. they have not brought up a single thing for vote on this particular bill. come on, the senate has got to do their job. that's how it works around here. >> more of the same old blame game. senator
this is the final day of the fiscal cliff countdown. the possibility of tax hikes, spending cuts, and a recession all looming at midnight. democrats and republicans turning to their so-called closers to cut a compromise deal. vice president joe biden, senate minority leader mitch mcconnell working behind closed doors, two men who have worked together for 20 years. the ho use and senate back in session in just a few hours. we're not seeing much progress. one significant stumbling block has been...
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Nov 14, 2012
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fiscal cliff, will have on the u.s. economy? 68% said that it would have a major effect. 21% minor effect. 2% said no effect. 10% said they don't know. this is the economy. pew and "washington post" also asked, what effect the fiscal cliff would have on your financial situation, 44% said a major effect. 38% said a minor effect. 9% said no effect. and then they also asked them, by the way, do you know what the fiscal cliff, do you know anything about it? about 26% said they understood it very well. 32% said fairly well. about a quarter said not so well. >> that's a trick question. i don't think even the people involved in creating the fiscal cliff understand it well. >> it's a good point. the fiscal cliff is an accident. it wasn't planned. it's not a planned austerity thing. it's budget things that all happen to expire at the same time that will create havoc. it is very hard to understand. but it is really important. it's probably a good chance it won't happen in its entirety. but if it does, it would be catastrophic. wh
fiscal cliff, will have on the u.s. economy? 68% said that it would have a major effect. 21% minor effect. 2% said no effect. 10% said they don't know. this is the economy. pew and "washington post" also asked, what effect the fiscal cliff would have on your financial situation, 44% said a major effect. 38% said a minor effect. 9% said no effect. and then they also asked them, by the way, do you know what the fiscal cliff, do you know anything about it? about 26% said they understood...
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Dec 7, 2012
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it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick around. we'll get back to you as well. >>> from wall street now to washington where the white house is keep iing a close eye on today's numbers. brianna keilar joins us now live. good morning, brianna. >> reporter: good morning to you, don. we're still awaiting reaction from the white house and also from congssional republicans. they've long said at the white house, take a look at the trend of these nuchls over the month. so this number, paired with the last couple of months on its face, they will say the trajectory looks good, obviously more needs to be done. maybe
it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick...
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Nov 14, 2012
11/12
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. >>> people are counting down the days until the nation goes off the so-called fiscal cliff. the tax cuts and cuts could throw the country back into a recession and though the president and house speaker are promising comp mice, there is no deal in sight, but some think taking a tstep off the cliff ma not lead to such a bad thing. one of those congressmen joins me now. waek, congressman. so, we hear all these dire things, if we go off the cliff, the country will be thrown into a deep recession. really? seriously? we should allow the country to go off the fiscal cliff? >> what the country need ss a sustainable and serious deal on the debt and that's got to be balanced. it has to include revenues and squeezing the pentagon a bit and obviously, maybing some entitlement reforms. if the leap adership an preside can negotiate that, that's great, but the worst option would be if they failed to negotiate and i'm a real skeptic, then the worst thing we could do is change the date from january 1 to say august or september. that would send a terrible signal to the markets. congress once
. >>> people are counting down the days until the nation goes off the so-called fiscal cliff. the tax cuts and cuts could throw the country back into a recession and though the president and house speaker are promising comp mice, there is no deal in sight, but some think taking a tstep off the cliff ma not lead to such a bad thing. one of those congressmen joins me now. waek, congressman. so, we hear all these dire things, if we go off the cliff, the country will be thrown into a deep...
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Nov 8, 2012
11/12
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we begin on the coming fiscal cliff when the budget cuts kick in. >> welcome to the capital. you heard everyone singing the kumbaya tune. you heard john boehner talking about the fact on the issue that has divided them on the fiscal cliff issue saying clearly that hedoes not want to raise taxes. he did say that maybe he would be for some kind of raising some kind of revenue. he didn't say what that means but talked about broad tax reform. on the other side of the capital. you saw right there the senate majority leader harry reid feeling like he has leverage here, it was a clear-cut issue, but also because of the mechanics of it. if nobody does anything, taxes will go up. so democrats realize that, they feel like they are probably right. >> there was a private conference call that he had, what do you know about it? >> we were told this was a call where all house repubca were on it. he was sober and he tried to buck everyone up and said that we are the lift line of defense from an america that barack obama would design. he had a clear message which was hold your fire. i need to
we begin on the coming fiscal cliff when the budget cuts kick in. >> welcome to the capital. you heard everyone singing the kumbaya tune. you heard john boehner talking about the fact on the issue that has divided them on the fiscal cliff issue saying clearly that hedoes not want to raise taxes. he did say that maybe he would be for some kind of raising some kind of revenue. he didn't say what that means but talked about broad tax reform. on the other side of the capital. you saw right...
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Dec 3, 2012
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. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> speaker boehner added he is flabbergasted by the administration's proposals while secretary geithner said he believes a deal can be reached by the end of the year. >>> we could find out this morning if the supreme court will take up the issue of same-sex marriage. at 9:30 eastern, the court releases its orders list. there's a possibili
. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going...
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Nov 16, 2012
11/12
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cliff. who will cave first, democrats, republicans? we have details of today's white house meeting. one. two. three. my credit card rewards are easy to remember. with the bankamericard cash rewards credit card, i earn 1% cash back everywhere, every time. [ both ] 2% back on groceries. [ all ] 3% on gas! no hoops to jump through. i earn more cash back on the things i buy most. [ woman in pet store ] it's as easy as... [ all ] one! -two. -[ all ] three! [ male announcer ] the bankamericard cash rewards credit card. apply online or at a bank of america near you. >>> severe spending cuts, huge tax hikes for everyone are now just only six weeks away. and with pressure mounting, president obama sat down at the white house today with congressional leaders from both parties to begin negotiations on a debt reduction deal that would keep the united states from going over the so-called fiscal cliff. >> i think we're all aware that we have some urgent business to do. we've got to make sure that taxes do
cliff. who will cave first, democrats, republicans? we have details of today's white house meeting. one. two. three. my credit card rewards are easy to remember. with the bankamericard cash rewards credit card, i earn 1% cash back everywhere, every time. [ both ] 2% back on groceries. [ all ] 3% on gas! no hoops to jump through. i earn more cash back on the things i buy most. [ woman in pet store ] it's as easy as... [ all ] one! -two. -[ all ] three! [ male announcer ] the bankamericard cash...
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Dec 30, 2012
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. >>> back here at home, the big focus is on the fiscal cliff. washington has less than 48 hours to make a deal before billions in tax increases and spending cuts take effect. senate negotiators stayed late into the night trying to work out a plan that would pass a vote. both houses of congress would convene later this afternoon in a rare sunday session. in his weekly address, the president took his message directly to the public calling for congress to come together to pass a deal. >> for the past couple months, i have been working with people in both parties with the help of business leaders and ordinary americans to come together around a plan to grow the economy and shrink our deficits. it's a balance plan. one that would protect the middle class, cut spending in a responsible way and ask the wealthiest americans to pay a little more. and i'll keep working with anybody who's serious about getting a comprehensive plan like this done because it's the right thing to do for our economic growth. but we're now at the point where in just a couple of
. >>> back here at home, the big focus is on the fiscal cliff. washington has less than 48 hours to make a deal before billions in tax increases and spending cuts take effect. senate negotiators stayed late into the night trying to work out a plan that would pass a vote. both houses of congress would convene later this afternoon in a rare sunday session. in his weekly address, the president took his message directly to the public calling for congress to come together to pass a deal....
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Nov 11, 2012
11/12
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congress returns this week but can it avoid the fiscal cliff? david martin outlines the budget cuts the pentagon is facing. california's vote for higher taxes for schools. carter evans talks to teachers and kids. >> we want to have a good life, we want to have great careers. >> jeff: and on this veteran's day lee cowan hears from parents who lost their only child to a man wearing an afghan army uniform. captioning sponsored by cbs this is the "cbs evening news." good evening, everyone, i'm jeff glor, two days after the abrupt resignation of cia director david petraeus more details are emerging about the chain of events that lead to his depar ture. we begin tonight with bob orr in washington. >> good luck, sir. >> reporter: sources say the down fall of cia director david petraeus was rooted in jealousy. the f business, uncovered evidence of an affair between petraeus and his biographer paula broadwell after she sent harassing messages to another woman who broadwell thought was too close to petraeus. source have identified the second woman as 37-y
congress returns this week but can it avoid the fiscal cliff? david martin outlines the budget cuts the pentagon is facing. california's vote for higher taxes for schools. carter evans talks to teachers and kids. >> we want to have a good life, we want to have great careers. >> jeff: and on this veteran's day lee cowan hears from parents who lost their only child to a man wearing an afghan army uniform. captioning sponsored by cbs this is the "cbs evening news." good...
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cliff and deep cuts that will happen or be averted by the president and congress before the first of the year will amount they further damage to the economy, domestic and international. >>shepard: a lot of debate preparation coming up for the campaign. >>carl: expectation is rampant. both campaigns have put out memos suggesting expectations are too high for themselves and they are up against insurmountable odds. the obama campaign respondents out that challengers tended it do well in the first debate because it is their first time to stand shoulder to shoulder with the president and have a one to won -- one comparison. and governor romney is saying that president obama devastated john mccain and one poll said john mccain lost by 33 points in that particular debate. both sides are saying opposition is superior. romney understands this is a big deal. the entire month of october will be dedicated to debates. it could be the most important time of the whole campaign and imaren't voters with what could be the biggest area of information. >>shepard: we will look at the latest polls. this a
cliff and deep cuts that will happen or be averted by the president and congress before the first of the year will amount they further damage to the economy, domestic and international. >>shepard: a lot of debate preparation coming up for the campaign. >>carl: expectation is rampant. both campaigns have put out memos suggesting expectations are too high for themselves and they are up against insurmountable odds. the obama campaign respondents out that challengers tended it do well...
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the fiscal cliff, of course, is congress' doing. it's massive tax increases and spending cuts because they couldn't agree on deficit reduction. it happens the beginning of the year. it can be avoided if congress acts. but no one is sure when, if, or how they will do it. now also this morning the new york attorney general has filed suit against jpmorgan over the risky mortgage-backed securities that were packaged and sold during the housing bubble. the civil suit alleges that bear stearns, which jpmorgan now owns and is responsible for, misled investors into thinking those toxic mortgage loans had been fully evaluated. the complaint also says even when bear stearns found out that there were problems the bank failed to disclose material information to investors. total losses, of course, from those mortgage-backed securities, oh, a mere $22.5 billion. in 2006 and 2007. a big problem there. and attention smart shoppers. here's what to buy and what not to buy in october. according to dealnews.com. halloween costumes. the week before hall
the fiscal cliff, of course, is congress' doing. it's massive tax increases and spending cuts because they couldn't agree on deficit reduction. it happens the beginning of the year. it can be avoided if congress acts. but no one is sure when, if, or how they will do it. now also this morning the new york attorney general has filed suit against jpmorgan over the risky mortgage-backed securities that were packaged and sold during the housing bubble. the civil suit alleges that bear stearns, which...
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Dec 19, 2012
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. >>> let's talk about that fiscal cliff. less than two weeks away, still no deal to avert the series of automatic tax hikes and spending cuts that will affect every one of us come the first of the year. earlier today, the president standing by his most recent offer. >> at some point there has got to be i think a recognition on the part of my republican friends that, you know, take the deal. you know, they will be able to claim that they have worked with me over the last two years to reduce the deficit more than any other deficit reduction package. that we will have stabilized for ten years. that is a significant achievement for them. they should be proud of it. but they keep on finding ways to say no as opposed to finding ways to say yes. i don't know how much of that just has to do with, you know, it is very hard for them to say yes to me. >> that was the president earlier today, the daily briefing. then this moment, very quick moment, this is house speaker john boehner's response. >> good afternoon, everyone. the republica
. >>> let's talk about that fiscal cliff. less than two weeks away, still no deal to avert the series of automatic tax hikes and spending cuts that will affect every one of us come the first of the year. earlier today, the president standing by his most recent offer. >> at some point there has got to be i think a recognition on the part of my republican friends that, you know, take the deal. you know, they will be able to claim that they have worked with me over the last two...
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thanks. >>> the fiscal cliff debate hitting a new low. 28 days tax hikes and spending cuts will create a lot of pain for nearly every american if a deal does not get done. republicans offering up a counterproposal to the president that calls for $2.2 trillion in deficit savings over the next decade. it includes $800 billion in tax reforms. $600 billion for medicare reforms. and $600 billion in spending cuts. but it does not contain tax hikes for the wealthiest americans. so the president immediately dismissed it. and if you want to know just how far apart the two parties are, this should clear it up for you. >> i think we're going over the cliff. >> it's unfortunate that the white house has spent three weeks doing basically nothing. >> what we can't do is kind of figure out what works for them. >> the president's idea of a negotiation is roll over and do what i ask. >> it's pretty clear to me they've made a political calculation. >> their ideas are different from ours, we can't guess what they are. >> we look forward to the time when they are specific. >> they need to be more specific.
thanks. >>> the fiscal cliff debate hitting a new low. 28 days tax hikes and spending cuts will create a lot of pain for nearly every american if a deal does not get done. republicans offering up a counterproposal to the president that calls for $2.2 trillion in deficit savings over the next decade. it includes $800 billion in tax reforms. $600 billion for medicare reforms. and $600 billion in spending cuts. but it does not contain tax hikes for the wealthiest americans. so the...
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Dec 31, 2012
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defense sector facing major cuts if we do go over the fiscal cliff. how that industry will be affected if we don't get a deal today, we'll talk about that after the break. stay with us. any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> they say the biggest priority is making sure we deal with the debt in a serious way. the way they're behaving is their only priority is making sure that tax breaks for the wealthiest americans are protected. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest, or frankly, the courage to close the deal. >> the deadline to get a deal done, steadily getting closer and closer. the defense industry wi
defense sector facing major cuts if we do go over the fiscal cliff. how that industry will be affected if we don't get a deal today, we'll talk about that after the break. stay with us. any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader...